“Bourbon is a key category in the US which is our single most important market. This deal aligns well with our consumer-centric strategy to offer our consumers the broadest line-up of high-quality premium brands. ​

"As with our American whiskies Smooth Ambler, Rabbit Hole and TX, we would provide Jefferson’s a strong route to market and secure its long-term development, while remaining true to its authentic and innovative character.”​

Richard J. Lampen, President and Chief Executive Officer of Castle Brands, said: “We are very pleased to reach an agreement with Pernod Ricard, which is the result of months of planning and deliberation by our Board of Directors.​

“We are confident that this transaction, upon closing, will deliver immediate and substantial cash value to our shareholders.”​

Pernod Ricard's purchase of Castle Brands follows its acquisition of a majority share in super premium spirits brand Rabbit Hole​​ earlier this year, eyeing up a 'renaissance' in the bourbon category.